Fintech

It was only just over a year ago that McKinsey described Africa's financial technology landscape as a “hotbed for investment.” Fast-forward to today and startups on the continent are facing many of the same problems plaguing fintechs in more mature markets like the U.K. and the U.S.: Valuat

The Reserve Bank of India (RBI) widened its curbs on Paytm’s Payments Bank, which processes transactions for financial services giant Paytm, barring it from offering many banking services, including accepting fresh deposits and credit transactions across its services. Wednesday’s move,

Block, the fintech company whose subsidiaries include Square, Cash App and Afterpay, is laying off staff at a tumultuous time for tech industry workers. That’s according to an internal memo from CEO Jack Dorsey, obtained first by Business Insider, which states that “the growth of [Block

PayPal has begun company-wide layoffs, according to multiple reports, including an article published by The Information. It is not yet clear at the time of writing how many people will be affected by the job cuts but one source told technewss it was expected to be in the “thousands.” Update: B

Apple revealed today that users earned more than $1 billion in Daily Cash from spending on Apple Card last year. The tech giant also announced that Apple Card has topped more than 12 million users. Apple Card, which first launched in 2019, is exclusively available in the United States. The company

Swedish fintech company Klarna announced today its first subscription plan, “Klarna Plus,” for $7.99 per month, featuring benefits like no added service fees when using Klarna's One Time Card, double rewards points and access to exclusive discounts with popular brands. The company also has

Apple has offered a set of commitments to competition regulators in the European Union aimed at resolving concerns focused on NFC payments and mobile wallet tech on iOS, its mobile operating system. The EU suspects Apple of unfairly favoring its own mobile payment tech, Apple Pay, and squeezing out

ZestMoney, the Goldman Sachs-backed Indian fintech startup once valued at $450 million, has sold itself to financial services firm DMI Group, the two said late Wednesday, in a fire sale that caps 12 tumultuous months for the once-hot new-age lender. The two firms didn’t disclose the terms of

Elon Musk has been detailing his vision for X’s, formerly Twitter’s, transformation into an “everything app,” including payments, creator tools, shopping and more, since acquiring the social network over a year ago. Now, the company is committing to a time frame. In an annou

HSBC has launched a new product called Zing focused on international transfers to better compete with fintech companies like Wise (formerly TransferWise) and Revolut. Bloomberg wrote that the app was on its way to the App Store and Play Store a couple of days ago. It is now officially out, so let&#

Tamara, a buy now, pay later platform for consumers in Saudi Arabia and the wider GCC region, has raised $340 million in a financing round that values the fintech at $1 billion. Saudi asset manager and financial institution SNB Capital and Sanabil Investments, a wholly owned company by Saudi's

E-commerce and fintech company Bolt, which was at one time the subject of a federal probe, confirmed it laid off 29% of its staff, according to a company spokesperson. In an emailed statement, the Bolt spokesperson said the one-click checkout company made the cuts to get Bolt to “an operating mod

Credit Karma co-founder and Chief Revenue Officer Nichole Mustard is leaving the company after 16-and-a-half years, technewss has exclusively learned today. A spokesperson of the consumer fintech, now a subsidiary of Intuit, confirmed Mustard's departure via email, writing only: “I can c

Bank and technology platform Kapital continues to rake in venture capital, grabbing another $40 million in Series B dollars and $125 million in debt financing. Tribe Capital led the Series B and was joined by backers, including Cervin Ventures, Tru Arrow, MS&AD Ventures and Alumni Ventures. Thi